Short facebook. On Nov 14th, it will be trading under $10

Quote from Bry:

Peil, you are all right. But try to learn from this: when "everyone knows," it is usually lemmings racing toward a cliff.
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Yes, I've not seen a clearer case of event-edge this year then to go long into the expiration of the lockup.
 
Was expecting a small downward move of 2% , proved wrong . Still believe facebook cant convert all this web traffic to profits.

Who do you think bys all that stock ??

PS would be healthier if the stock dropped a bit.
 
Quote from atticus:

Yes, I've not seen a clearer case of event-edge this year then to go long into the expiration of the lockup.
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So you must have bought alot of FB before today, right? Or at least alot of call options? How much did you buy?
 
Quote from Bry:

Peil, you are all right. But try to learn from this: when "everyone knows," it is usually lemmings racing toward a cliff.
More...

Kind of like that stock you wanted to buy yesterday, MCP that we told you it was a falling knife, huh? :P At least I was right about something. :D :D Down 8% as of now.
 
Quote from peilthetraveler:

So you must have bought alot of FB before today, right? Or at least alot of call options? How much did you buy?
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Yes, I did buy short term Nov calls, some in the money, some out. I did make $, but missed the big move. I got in on Mon, out on Tues.

So I definitely made a mistake not staying in!

There are plenty more opportunities. Rest easy.

ps, how much did I buy? NOYB : )

pps, MCP is not an "everybody knows" stock
 
Quote from peilthetraveler:

So you must have bought alot of FB before today, right? Or at least alot of call options? How much did you buy?
More...

I have a mandate not to trade anything under $70/share: http://www.elitetrader.com/vb/showthread.php?s=&postid=3511309&highlight=atticus#post3511309

I think I'm adequately on the record telling you that your logic was facocked and that the stock would be higher the week after the lockup expiration.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3678788&highlight=higher#post3678788
 
I was expecting at least a small loss, but bracing for the worst;
but this really surprised me...

my Leaps did well [obviously]

I try to take a Mark Douglas approach now,
where you just can't predict much

marc
:D
 
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